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New Report Reveals 62 Crypto Kidnappings in Asia Alone as Physical Attacks on Investors Escalate
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Criminals Turn to Kidnapping as Crypto Becomes Target for Physical Ransom
Digital assets may be stored in cold wallets, but their owners are increasingly facing threats that are anything but virtual.
According to a newly released Binance report, physical abductions tied to cryptocurrency theft have been on the rise across the globe, with the United States now recording the highest number of such incidents since 2019—outpacing even France, which has seen a recent uptick.
This shift marks a disturbing trend: cryptocurrency is no longer just a target for hackers.
It's becoming a trigger for real-world violence.
Europe Still Leads, But Asia Sees Steady Surge
Europe remains the most affected region with 59 crypto-related kidnapping cases over the past six years.
North America follows with 48.
However, Asia has seen the highest overall volume, with 62 cases reported across the continent since 2019—most concentrated in Southeast Asia, where regulatory gaps and rising crypto usage make users vulnerable.
France in particular has experienced a spike in 2025, with three of six recent cases occurring this year alone.
Global distribution of crypto kidnappings since 2019
Victims often include crypto entrepreneurs, exchange staff, high-net-worth traders, and occasionally even their relatives or tourists believed to hold wallet credentials.
Not Just Hacks—Crypto Crime Is Turning Violent
Crypto-related crimes have typically been digital in nature—phishing attacks, exchange exploits, and ransomware.
But in recent months, the threat has moved offline.
In January, David Balland, co-founder of Ledger, and his wife were abducted in France—a case that shook both the crypto industry and law enforcement.
Balland reportedly had a finger severed and sent to his associates as a threat.
After being held captive for about 24 hours, they were rescued in a coordinated operation by French authorities.
Earlier this month, gunmen in Paris allegedly attempted to abduct the daughter and grandchild of the CEO of French exchange Paymium.
Fortunately, the attack was thwarted when the child’s father intervened, bravely confronting the assailants despite being assaulted, which ultimately forced them to flee the scene.
These incidents reflect a disturbing tactic: when cyber access fails, criminals turn to physical violence—even mutilation—to achieve their goals.
Meanwhile, across the Atlantic, New York police arrested 37-year-old John Woeltz after an Italian tourist was found held captive and tortured for weeks inside a luxury Manhattan flat.
Authorities say the motive was tied to extorting access to crypto funds.
Bitcoin’s Bull Run Sparks New Wave of Physical Attacks
There appears to be a connection between crypto market highs and the rise in violent incidents.
Binance’s report suggests that as Bitcoin hit record highs in 2025, so too did the number of physical attacks involving digital assets.
As bitcoin's price increases, crypto kidnapping cases also rise.
At least 15 cases of kidnapping or physical threats tied to crypto have already been reported this year, many involving ransom demands in Bitcoin.
Unlike cyber hacks, these attacks don’t target systems—they target people.
Criminals are reportedly tracking individuals believed to manage or hold crypto, then using physical coercion to force access to funds.
Why Are Criminals Shifting Offline?
As digital wallets become more secure and blockchain surveillance more advanced, some attackers may see physical threats as a more effective route.
For them, brute force offers what encryption won’t allow: direct access.
It’s no longer enough to keep your seed phrase hidden.
In a world where criminals are willing to kick down doors, security has become a personal risk—especially for those publicly associated with digital wealth.
Security Is No Longer Just Digital
The threat landscape in crypto is evolving, and the lines between online and offline danger are blurring fast.
As long as digital assets hold real-world value, criminals will find real-world ways to steal them.
It raises urgent questions about how investors, builders, and even casual holders can protect themselves—not just online, but in their everyday lives.
The tech is decentralised.
The threat? Alarmingly personal.
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